TAX LEVY
A tax levy is the stuff of nightmares — and it’s a sign that you’ve let your tax problems get away from you. A tax levy allows the IRS to garnish your wages or even seize your property to settle your tax debt. IRS wage garnishment and property seizures are real and every bit as intimidating as you can imagine.
A tax lien isn’t the same as an IRS levy. A lien is a claim on your home or office. When you sell it, the IRS gets what you owe first, before you get anything. A levy is a legal seizure of your property. The type of property that the IRS can legally take away from you includes:
- Funds from your bank
- Assets in other financial accounts
- Real estate
- Vehicles
- Personal property, such as art, electronics, furniture and other items of value
If you’re hit with a Final Notice of Intent to Levy and Notice of Your Right to a Hearing from the IRS, it’s not too late to call Miller & Company LLP, NY Certified Public Accountants, a best rated CPA New York firm.
Don’t wait for this shoe to drop. Take action before the IRS resorts to seizing your property. The expert, top rated CPAs in NYC at Miller & Company can prevent this from happening to you. It can start at the beginning of the year with good tax planning advice, but if you find yourself on the verge of an IRS levy, it’s much too late for that.
THE BAD NEWS
The IRS initiates a tax levy usually after trying other forms of collecting the taxes you owe. So if you receive a notice of levy from the IRS, you’re either ignoring all the other correspondence that the IRS has sent you or your personal or business accountant is patently misleading you. That would never happen if you’d hired Miller & Company with offices in NYC and Queens. In addition to being excellent tax accountants NYC, they’re honest, ethical and communicative.
The IRS resorts to a levy if your case meets the following three criteria:
- You’ve received a Notice and Demand for Payment, which essentially is a bill for the taxes you owe.
- You have not yet paid the tax debt.
- You’ve received the Final Notice at least 30 days before any action can begin.
If you recognize any of these situations, you need to take immediate action to avoid the levy from taking place. To protect your personal assets, you need help — and fast. Call top CPA in NYC, Miller & Company at 718-514-9995 and be ready to cooperate.
More info: https://www.cpafirmnyc.com/tax-levy
Working Hours:
Monday – Friday: 9:00 am – 7:00 pm;
Saturday: 9:00 am – 4:00 pm,
Sunday: Closed
Payment: cash, check, credit cards.
CONTACT US
Miller & Company LLP
Washington, DC
700 Pennsylvania Ave, SE, Ste 2050
Washington, DC 20003
(202) 547-9004
Queens, NYC
141-07 20th Ave, Suite 101,
Whitestone, NY 11357
718-767-0737
https://www.cpafirmnyc.com
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